The research conducted by Frost & Sullivan, a subsidiary of Growth Partnership Company, has indicated that the field of contactless smart cards in Asia-Pacific is likely to register gross estimated revenues of over USD 2 billion by the close of 2016, since growth in unit shipments are set to increase from 2012 to 2016 at rates between 20 and 25 percent year-on-year. Moreover, by the end of 2016, an estimated 1.9 billion contactless smart cards will be delivered to Asia-Pacific, up from 590 million last year.
According to the same study, the request for contactless cards will be mainly triggered by NFC (Near Field Communication) technology, e-Passport’s use of the contactless interface as well as mass transit projects implementation around the globe and across the region of Asia-Pacific. Moreover, the NFC-technology on mobile devices is also likely to attract renewed interest in contactless bank credit and debit cards, with security issues having been eliminated, the research highlights.
The world is already prepared to roll-out NFC commercial projects with a small number of commercial projects having already begun and more than 200 pilot projects already completed across the globe”, Frost & Sullivan research analyst Reuben Foong concludes.
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